Panhandle Oil and Gas Inc. (NYSE:PHX) Given $21.00 Average Price Target by Analysts

Shares of Panhandle Oil and Gas Inc. (NYSE:PHX) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus price objective of $21.00 for the company and are anticipating that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Panhandle Oil and Gas an industry rank of 54 out of 255 based on the ratings given to related companies.

Several equities analysts have recently issued reports on PHX shares. Zacks Investment Research downgraded shares of Panhandle Oil and Gas from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. ValuEngine upgraded shares of Panhandle Oil and Gas from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, TheStreet downgraded shares of Panhandle Oil and Gas from a “c” rating to a “d+” rating in a report on Friday, December 13th.

Shares of PHX traded down $0.48 during mid-day trading on Friday, hitting $8.87. 61,815 shares of the company traded hands, compared to its average volume of 34,143. Panhandle Oil and Gas has a 1-year low of $8.81 and a 1-year high of $16.97. The company has a quick ratio of 4.67, a current ratio of 4.67 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $152.77 million, a PE ratio of 10.51 and a beta of 0.69. The business has a 50 day moving average of $11.19 and a 200 day moving average of $12.45.

Panhandle Oil and Gas (NYSE:PHX) last posted its quarterly earnings data on Thursday, December 12th. The oil and gas producer reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $1.27. Panhandle Oil and Gas had a negative net margin of 78.48% and a positive return on equity of 11.90%. The firm had revenue of $15.73 million for the quarter, compared to the consensus estimate of $10.14 million. As a group, research analysts expect that Panhandle Oil and Gas will post -0.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, February 19th. This represents a $0.16 annualized dividend and a dividend yield of 1.80%. Panhandle Oil and Gas’s dividend payout ratio (DPR) is currently 16.00%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in Panhandle Oil and Gas in the third quarter valued at approximately $2,921,000. California Public Employees Retirement System boosted its position in Panhandle Oil and Gas by 5.7% in the third quarter. California Public Employees Retirement System now owns 187,301 shares of the oil and gas producer’s stock valued at $2,618,000 after buying an additional 10,100 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Panhandle Oil and Gas by 2.8% in the third quarter. Disciplined Growth Investors Inc. MN now owns 368,305 shares of the oil and gas producer’s stock valued at $5,149,000 after buying an additional 10,020 shares during the last quarter. Rhumbline Advisers boosted its position in Panhandle Oil and Gas by 8.6% in the third quarter. Rhumbline Advisers now owns 24,928 shares of the oil and gas producer’s stock valued at $348,000 after buying an additional 1,982 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Panhandle Oil and Gas by 9.4% in the second quarter. Wells Fargo & Company MN now owns 145,333 shares of the oil and gas producer’s stock valued at $1,895,000 after buying an additional 12,485 shares during the last quarter. Hedge funds and other institutional investors own 60.08% of the company’s stock.

Panhandle Oil and Gas Company Profile

Panhandle Oil and Gas Inc acquires, develops, and manages oil and natural gas properties in the United States. The company produces and sells natural gas, crude oil, and natural gas liquids. Its principal properties are located in Oklahoma, Arkansas, Texas, New Mexico, and North Dakota. As of September 30, 2018, the company owned perpetual ownership of 258,555 net mineral acres; leased 17,203 net acres; and held working interests and royalty interests in 6,079 producing oil and natural gas wells, as well as had 69 wells in the process of being drilled or completed.

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